All you need to know about Tax Advisory

When we get to talk about Tax Advisory, we’re gathering around all the information and procedures related to a specific person or a company’s fiscal and accounting duties (taxes), such as income tax, tax on economic activities, corporate tax or added value taxes. These, as it’s been previously explained, are some obligations that all entities must prosecute.

However, many people don’t know all the key information regarding their responsibilities as an autonomous person or a company, and this may cause few headaches to those whom get notified with a warning or a penalty fee after delayed payments. To avoid those bitter surprises, we’re going to give you a broad and deep look into Tax Advisory.

What is Tax Advisory?

Taxpaying entities with complex financial situations such as convoluted investments and deductions tend to look for a Tax Advisor’s support to minimize the amount of tributary obligations and, also, keep paying all the taxes on time as well as the exact values.

Every business owner knows that taxes are related to the entire company’s operation, so in order to reduce losses, its necessary to be under constant Tax Advisory by an expert, whose responsibilities goes further than evaluating, fixing and planning the best ways to enhance the client’s resources while maintaining all duties up to date.

See also: Have you heard about Tax Accounting Services?

Why do we need Tax Advisory?

In order to comprehend the entire Tax Advisory purposefulness, we must put this in an everyday situation.

As you may know, the process of labeling and presenting, for example, an income tax return may result very distressful to many people. Sadly for them, this is a regular matter which laws change frequently, making it harder for business owners and individuals to keep on with the updates. Just think about it: credits, taxes, reportable income, government deductions and much more… What a mess!

Now, this prevalent confusions end up being the cause of mistakes, such as over payment, underpayment or – as explained before – delays. In any case the taxpayer will be losing money, especially for penalties. Fortunately all entities (individuals and companies) can count with the Tax Advisory support.

What does a Tax Advisor do?

Just like its name implies, a Tax Advisor is a person whose labor is to provide expert advice on documents, filers, laws updates and is also able to suggest strategies in order to reduce duties as well as audits that may lead to legal troubles. Moreover, a Tax Advisor not only can prepare documents on behalf of the client, but also represent them before tax authorities and courts to resolve tax issues. Among the Tax Advisory tasks, the expert in charge may:

  • Assessing a customer’s budgetary and legitimate conditions to determine tax liabilities.
  • Gathering, sorting out and getting ready tax archives and returns.
  • Finishing complex tax documents and calendars that most assessment preparers are new to.
  • Supporting the clients with duty issues amid and after a noteworthy life change, for example, a marriage, divorce, the demise of a life partner or the birth of a child.
  • Representing clients in front of tax authorities.

To conclude, Tax Advisory is an important element for the right functioning of your company’s legal posture, but also for its financial behavior and improvement.

Remember that, in the case of mercantile companies, you can get an expert’s support on the following fiscal obligations thanks to a Tax Advisor:

  • Corporate tax.
  • Tax on economic activities.
  • Value added tax.
  • Billing obligations.
  • Withholdings and income on account.
  • Communications by electronic channels.
  • Census of promoters, professionals and retainers.

Besides the aforementioned, in the case of individuals, limited liability entrepreneurs, communities of goods and civil societies, the Tax Advisory also can lend its aid on the income tax for individuals.

See also: 8 Benefits of Accounting Services for your company

So, knowing this, you should look on your tax responsibilities to avoid any mistake or payment delay. Also, considering the complexity of the matter, we recommend you to contact an expert team on Tax Advisory to receive constant support along this convoluted process.

Posted in ENG

Have you heard about Tax Accounting Services?

Naturally, as a consolidated company, your business has to follow few tax obligations which must be in permanent order to avoid legal misunderstandings. We can mention income taxes, taxes on sales, retention at the source, tax of industry and commerce, among many others, and to keep this in check it’s important to receive a constant and close advisory from a reliable source, such a specialized team on the Tax Accounting Services matters.

To comprehend the importance of Tax Accounting Services, first we must talk about taxes. Taxes are studied designed elements created by the Government in order to contribute to the sustenance of public expenses, also to redistribute the income according to every entity’s economic capacities and, as a third aspect, taxes are structured to seek for an improvement on the country’s economic efficiency.

 

Also read about: 8 benefits of Accounting Services for your company

 

It means that even if taxes represent a financial duty with nothing concrete in return, it’s important to understand that taxes are a crucial recourse to the country, also part of its maintenance and a substantial element to progress. So, to this, taxes represent a final benefit to every company, making them more attractive to external investors.

This is why taxes are important and also a legal obligation.

Knowing the aforementioned, the Tax Accounting Services are essential to a company’s legislative and regulatory environment. So, the expert whose job is to keep the tax accountings must check and advice about a different matter other than just identifying and optimizing the company’s intern financial condition.

The Tax Accounting Services responsibilities extension goes from identifying and verifying the mandatory taxes of a company, to tax policies determination in order to execute bonuses or discounts. Moreover, is fundamental to understand how different are Tax Accounting Services compared to financial accounting, because the person in charge of the tax accounting must have a complete knowledge of all the management around the monthly or annual taxes and tax return that every company or organization has to perform.

In fact, some of the most recurrent tasks that an expert on Tax Accounting Services must accomplish are:

  • Collect and analyze all the information related to monthly sells and services of the different company’s unities in order to determine, make and declare every taxation responsibility.
  • Set guidelines, formats and characteristics which has to contain all the sells and services information to create the company’s form to declare its obligatory rent.
  • To be the institutional counterpart in taxation matters before the auditing bodies, such as rent determination and calculation.
  • Keep checked the legal documents and books compliance.
  • The custody and actualization of the printed legal books which are required by the controlling entities.
  • Also, to create the supportive and official electronic books and reports which are also a requirement.

Now you know about the importance of keeping on the line with the legal obligations of your company and how helpful it is to count with the support of the Tax Accounting Services, you should see how your business will be benefited by it:

Tax accounting

Aid the annual and monthly tax calculations to review how prepared is your company to carry out its responsibilities. Also, checking the documents actualization, so you’ll be unworried about any legal issues on your business.

 

Tax balance sheets

Check and validate current and old tax sheets to prepare new balance sheets whose job is to support your company’s actual financial condition.

 

Transactions

One of the main tasks of Tax Accounting Services is, also, to assist on all transactions related on different aspects, from acquisitions to post bankruptcy emergence.

 

Tax risk

Recognize and prepend all important taxes, procedures and managements to control the entire monitoring and emendation.

 

Also read about: How online accountants work?

 

So if you want to improve your business’s financial condition while keeping it all in the legal regulations, it’s recommended to contact an expert whose support will help you get a wider look on the Tax Accounting Services landscape and, besides, will give you an early alert about any irregularity.

 

 

Posted in ENG

How Online Accountants work?

Have you heard about Online Accountants? They represent a modern solution to your business by helping you to carry out any financial issue in an efficient and modern way. Online Accountants not only supports all your economical movements and allows you to save resources like time or money, but also ensures your company’s information to avoid losses by any means, plagiarisms or leaks of delicate data.

As you may well know, en expert Accountant is a person whose primary tasks revolve around financial records. Naturally, their job is to prepare and analyze the entire economic data in order to keep an accurate record around incomes and expenses, including taxes which must be paid in time. Additionally, Accountants – as well as Online Accountants and auditors – must keep both eyes wide opened over the whole company’s financial operations, performing eventual audits to maintain an efficient flow.

Online Accountants do – pretty much – the exact same job of a traditional Accountant, however the online aspect of their work allows them to manage, update and look over the company’s records without the need of a constant physical presence, which helps to optimize time and, certainly, money. In other words, Online Accountants:

• Keep a detailed record of your business’s financial movements.
• Plan ways to minimize risks, improve efficiency and increase profits.
• Organize efficient ways of taxes payments.
• Can offer constant records of the current portfolio status.
• Ensure that the company is complying with laws and regulations.
• Provide audits for companies and individuals.

 

Also read about: tax firm

 

Let us put this in perspective.

The digital era has been changing every aspect we can imagine, from everyday tasks to complex jobs like running an international corporation, and in between all that, Online Accountants are now a reality. Even if companies undoubtedly trust in traditional accounting, they’re moving forward to a modern methodology with all the benefits of the internet and the cloud.

The cloud, as you may well know, is a wide network created by the connection of a variety of spread physical and powerful devises (servers) whose objective is to store an immense amount of data which can be accessed only by the owner’s permission. This means that everything that’s based on the cloud is, primarily, online and can be shared with whoever the owner wants whenever or anywhere. Moreover, those servers can be reliable sources of security and management, because all the information can’t be stolen or acquired by unauthorized third parties. So, instead of keeping all your company’s information inside an USB or a CD where it can be easily lost by any means, you can storage and manage if from any devise like your computer, smartphone or tablet, and have access to it at any time and any moment while you sleep at night knowing that all your company’s information is safe 24/7.

Accounting, as one of the most recurrent and time consuming tasks on your company, there’s the possibility of acquiring an Online Accountants service, which has many advantages over the traditional accounting services, for example, you’re able to access all your company’s financial information from any device with an internet connection and, as we mentioned earlier – and unlike the classic ways –, this information will be constantly updated, offering reports of your company’s status in real time. In other words, thanks to Online Accountants your account balance will always be accurate and less to none errors will take place.

In the other hand we have to think of the economic benefits, which rank from the time you can save by avoiding the manual data entering (software upgrades) or server failures, to money-saving benefits as, for example, you won’t need to hire IT support or deal with routine maintenance.

Let’s face it: with Online Accountants you can save a lot of time and money, so what are you waiting for to acquire this modern service to improve your company’s productivity as well as resources?

Contact us and take your first step into the next level.

Posted in ENG

8 Benefits of Accounting Services for your company

Big companies as well as small businesses and Start-Ups are in constant motion, their finances are flowing and it’s crucial to keep record of every single movement. This way the ones in charge of taking decisions will know how to improve the productivity while increasing savings and resources without compromising the company.

In order to keep an eye over the entire company’s economic behavior, it’s recommended to count with the support of an Accounting Services expert, whose job is to keep track of incomes and expenses, pay taxes on time, avoid unnecessary outgo, and many more.

Let’s have a better glance of the benefits of hiring Accounting Services:

1. Accounting Services ensures payments are done in time:

As business directors we must be honest with you, so let’s begin with this annoying but immovable truth: even though your employees love to work with you and be a part of your company’s team, they – pretty much – stay working there because of their salary. So, if there are irregularities with the payroll, don’t be surprised when the productivity slows down. With the help of Accounting Services all payments will be on time and the amounts are going to be just right.

2. Increase your company’s productivity and make it grow:

If you’re aiming for a better future for your business, you must keep your mind away of distractions. By hiring the Accounting Services you’ll be able to be focused on your responsibilities and your company, while an expert works on the financial branch being in charge of tasks like reducing investments on technology, human resources or infrastructure. If everything’s working clockwise, you’ll see how your company grows in no time.

3. Access your financial information at any time:

Most of the Accounting Services are cloud-based, which means they are online. This way you and your team (only the allowed ones) will be able to access all your economic records anytime and anywhere as long as you have an internet access on your device. Your company’s financial state will be constantly updated and free of any human error.

4. Save resources, such as time, effort and money:

For us, as business owners, one of the most interesting benefits of Accounting Services is the possibility of saving time and money. When you get outsourced Accounting Services there will be an important reduction of all the expenses related to employee benefits as well a proper training and office supplies. As mentioned before, you’re not only going to save money by hiring an expert team to do the accountings, but also save time and efforts because you’ll have a reliable ally by your side to control your company’s resources, whose going to give you the best advice to manage those resources correctly.

5. Reduce all risks in your business:

As you may know, there are plenty of financial risks that can have a negative effect on your company and even, harsh to say, affect your name. In other words, it is possible to end up with a huge debt or even going to jail. We told you, it can be harsh.
When you get Accounting Services support, your finances will always be in order and you’ll avoid possible thefts, irregularities, arrears in payments or anything else that could cause harm to your company’s reputation or stability.

6. Automate your data and go paperless:

Another important benefit of counting with Accounting Services is that everything will be managed via software, which means less paper. Your company can be eco-friendly by saving paper and space, besides the energy required to use fax machines and printers.

7. Have a better perspective to take important decisions:

Once you have all your finances in order thanks to Accounting Services, you may have a clearer understanding of your company’s economic landscape. At this point you’ll see the necessities or opportunities that can be taken and, in other terms, you can cut back expenses before it’s too late or make strategic movements to make your business grow and expand.

8. Maintain all your information safe:

When hiring Accounting Services, all your finances are going to be in a software, which means that not much people are going to have access to it. And let’s be honest, no one wants a lot of eyes picking in their economic records. Remember that this data is going to be cloud-based, which means that it’s going to be encrypted and this reduces considerably any possible theft or access of third parties.

Now, if you’re looking for making your business grow while keeping it simple and secure, we recommend you to contact us and get proper Accounting Services.

Posted in ENG

Does your company need accounting advisory and outsourcing?

Generally speaking, companies count with the aid of an accounting advisor whom is in charge of regulations and the audit tax advisory. With the accounting services in line, any business can optimize incomes and expenses to aim for a better commercial future. However, not every company has its own advisor to provide constant accounting services and, with the pass of time, it becomes a headache which requires immediate solutions.

So what can a company do in this situation? ¿To hire a new employee to work as an advisor and run with all the expenses or to contact an outsourcing accounting team?

Let us answer that predicament in a simple way: Outsourcing will always be the best solution when it’s about accounting services.

”Why” you ask? Because your company won’t have to deal with the all the obligations related to a new employment economically speaking. Plus, your team will keep focused on their specialty instead of accounting services. So yeah, accounting services and outsourcing will always be the right way to go.

Now then, in order to explain the importance of accounting services by outsourcing, let’s begin with the basics: Outsourcing.

As explicit as it is in its name, outsourcing services are a trendy but solid alternative which simplifies and optimizes company’s intern processes by employing outside hands to fulfill specific tasks. Beyond helping you to save time accomplishing certain functions, outsourcing services will provide better results on those punctual labors as they are performed by experts in that area.

To make this a little clearer, here’s an example:

A clothing brand (CB) is going to launch a new jackets collection for this fall. The jackets are purely made of wool as it’s expected. However, all the new jacket’s designs possess a distinctive zipper on its side, and the clothing brand doesn’t have any experience on manufacturing zippers at all. In fact, the CB does not count with the raw material or any employee capable of making zippers.

Under those circumstances, the CB’s director contacts and hires a zipper producing factory (ZPF) in order to make the distinctive zippers needed by the new jackets. They both sign an outsourcing services contract and start working on their specific labor to launch the collection in time.

Right, the benefit here lays on two important aspects: fist, the CB will be 100% focused on its work, which includes the entire wool treatment process and the jacket’s manufacturing, while de ZPF works on creating the zippers. It means that the CB won’t have to worry about the zipper’s production time. In the other hand, production costs will be considerably reduced because there will not be any need of acquiring the right equipment or raw material to manufacture the zippers.

So, in conclusion, outsourcing services represent a huge gain to the clothing brand, making it save time, efforts and money, but moreover, assisting it to achieve better results. In this case, the best quality jackets for this upcoming fall.

Also read about: Have you heard about Tax Accounting Services?

Now, the aforementioned example alludes the main benefits of contracting outsourcing, however, when we talk about accounting services by outsourcing there are much more advantages that must be in our radars, such as:

  • The accounting services will be part of the variable expenses instead of the fixed ones, allowing the company to use its resources more strategically.
  • There won’t be any need of invest on the basic necessities of a new employee, like work tools, space, and social benefits obligations.
  • The company will acquire an expert on accounting services since the first day, omitting the delaying (and also risky) learning curve.
  • When your company works alongside a trustworthy firm on the accounting services area, you can be completely sure about getting a mistake or fraud free service.

So instead of being in a constant deal for results, your company should be focusing its efforts and resources on its very own business to ensure a better performance which will bring superior incomes. Contact with an expert accounting services team to help you get the best results in a trustworthy way, optimize your procedures and use of resources and watch how your numbers get higher.

Let us ask you something: Does your company need accounting services and outsourcing?

Posted in ENG

What is Accounting Advisory and why is it important?

At first glance we may think that accounting services work merely as a method of knowing how the company’s economics are flowing. In fact, this is one of its main tasks, but its mission goes further than that. Also, it wouldn’t be responsible at all to say that Accounting Services are only required when there’s a hole in the finances or, moreover, useless when the brand is doing just fine.

In general terms, accounting services are useful tools to large and medium companies, as to small and new enterprises, which supports to clarify financial situations related to the purchase of products or the selling of them, as to investments or even legal and administrative issues, among other economic activities whatsoever. It is, additionally, recommendable to have a constant accounting advisor to work along the company in order to have solid bases of knowledge about the trajectory and the intern ways. As such, the advisor has to analyze the entire spectrum before making any relevant verdict, because it tends to have an effect on the entire company or specific individuals.

Now then, Accounting Advisory is the discipline in charge of the monetary measurement, registry and comprehension for a public or private organization, but also include:

  • Establish and select accounting systems.
  • Valuate, classify and register financial transactions.
  • Create, analyze and comprehend financial statuses.
  • Work out the company’s financial politics.
  • Develop investment projects.
  • Maintain the bonds with credit sources and determine its contributions.
  • Schedule financial and fiscal audits.
  • Inspect the accounting system’s behavior.
  • Check over the intern management control.

In order for a business to function correctly under the laws of every different country, it is necessary to own permanent accounting services. Furthermore, when the business walks its first steps, would be ideal to acquire an accounting advisory to control its fulfillment regarding taxation obligations and legal operations. Based on the aforementioned necessity for accounting services, one the entrepreneur resaves the advisory, he or she will be able to make the right decisions over his or her business.

In practical words, when a company opts for getting accounting services from an expert, the business will obtain:

An improvement of its efficiency levels                                            

As told before, it’s almost mandatory to receive accounting advisory services during the entire business’s birth and growth process. When it is done properly, it will help the owner to know and improve the efficiency levels of his or her company. Likewise, it also guarantees a much better performance among the specific market in which the company is trying to stand out and, subsequently, display superior results over its competitors.

More flexibility of costs and expenses

One more advantage of accounting services, it’s precisely the possibility of transferring all the financial responsibilities to an expert accounting advisor, who’s capable of cunningly manage the company’s resources, as well as its operative investments. Once the company counts with the support of a specialist, it’ll be more possible to control incomes and expenses, and even generate an amount of savings. Plus, once there’s knowledge about the right movements and also a saved stock, the owner can propose an investment focusing it to an improvement, which should be discussed with the accounting advisor whom will recommend a way to proceed without harming the company’s income.

A reduce in risks and contingencies

In the other hand, there’s another good side of having the aid of an accounting advisor. By the help of an expert, the company will significantly reduce the expenses on any tributary contingency that can happen. Moreover, the company’s risks in general will be lower than the average percent of hazards than in those cases where there’s no accounting services at all.

Also read about: Does your company need accounting advisory and outsourcing?

So remember, the accounting services goes further than just filling the accountability book. A company that counts with the advisory of and expert, will have its finances in order, allowing it to control every income and expense in sight. It also can find irregularities or holes, warning the organization and calling it to act as quickly as possible and solve them and avoiding grave consequences. Besides, as a closure, as the company will have a better management of its resources, there will be an eventual growth regarding every aspect.

Now it’s up to you to contact the best accounting advisory services, and ensure a satisfying development for your company.

Posted in ENG

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